Marine Scrubber Market Forecasted to Expand to $20.3 Billion by 2031, Fueled by Environmental Compliance Needs

According to a new report published by Allied Market Research, titled, "Marine Scrubber Market," The marine scrubber market size was valued at $4.9 billion in 2021, and is estimated to reach $20.3 billion by 2031, growing at a CAGR of 16.2% from 2022 to 2031.

Ships are an essential mode of transportation, moving goods across the world's seas and oceans. The ship's engine is a critical component of a vessel, and it generates significant amounts of exhaust gases that are released into the atmosphere. However, marine scrubbers are used to reduce the emissions of harmful pollutants from ships. The marine scrubber market refers to the global industry involved in the manufacturing, installation, and maintenance of exhaust gas cleaning systems or marine scrubbers for ships.

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The environmental protection mandates and laws are getting more valued across the world to reduce the impact of marine emissions. These standards emphasize on supporting the use of non-toxic materials, implementing conservation techniques, and changing production processes. This supports the recycling or reuse of materials more accurately than driving them into the waste stream, which helps to eradicate pollution. Europe and North America are a few early law adopters of environmental protection across the globe.

The EPA (Environmental Protection Agency) controls pollution management regulations in the U.S. A few of the significant laws and regulations in the country include the clean air act, pollution prevention act, national environmental policy act, and clean water act. The clean air act concentrates on setting air emissions from mobile and stationary sources to protect public health and control the emissions of hazardous air pollutants.

Regulations regarding emissions from ships vary depending on the location and type of ship. The International Maritime Organization (IMO) has set global standards for emissions, including limits on sulfur content in fuel and requirements for marine scrubber. These regulations are enforced by individual countries, and some countries have implemented stricter regulations than those set by the IMO. One example of a country with strict emissions regulations is China. In 2019, the country implemented 0.5% of sulfur cap for ships operating within its territorial waters. This led to a significant increase the sales for marine scrubber market, as many ships were unable to use low-sulfur fuels due to unavailability and cost issues.

The EU has implemented regulations regarding emissions from ships, including a 0.1% sulfur cap in emissions control areas (ECAs) and a 0.5% sulfur cap for all ships operating in EU waters. In addition, the EU has set targets for reducing greenhouse gas emissions from the shipping industry, including a 40% reduction in CO2 emissions by 2030 and a 70% reduction by 2050 compared to 2008 levels. Such targets and rise in sales of ships are expected to increase the demand for marine scrubber market.

Leading Market Players

Fuji Electric Co., Ltd.
Alfa Laval
Mitsubishi Heavy Industries, Ltd.
Valmet
Pacific Green Group
Wartsila
KwangSung
ANDRITZ
GEA Group Aktiengesellschaft
Yara International ASA

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The wet technology segment to dominate the market during the forecast period

Based on technology, the wet technology segment contributed to the largest share of nearly 90% of the global marine scrubber market in 2021 and is expected to maintain its dominance during the forecast period. This is due to the increased demand for clean air, stringent environmental regulations, and the need to reduce harmful emissions. However, the dry technology segment is projected to witness the fastest CAGR of 22.6% from 2022 to 2031. This is because dry technology has observed huge demand in North America, Asia-Pacific, and Europe. Asia-Pacific is projected to register significant growth in the near future due to the availability of labor and various government initiatives.

The bulk carriers segment to grab the lion's share during the forecast period

Based on application, the bulk carriers segment grabbed the highest share of one-third of the marine scrubber market in 2021 and is expected to dominate the market in 2031. This is because the bulk carrier is involved in transportation of raw materials and other bulk commodities. These vessels are primarily used to transport dry bulk cargoes such as coal, iron ore, grain, and other raw materials that are essential to various industries around the world. However, the cruises segment would witness the fastest CAGR of 21.0% from 2022 to 2031. This is because cruise ships are made to give passengers a vacation that includes lodging and entertainment while putting an emphasis on the comfort and facilities available onboard.

Asia-Pacific to achieve the largest revenue by 2031

Based on region, the market in Asia-Pacific was the largest in 2021, accounting for more than two-fifths of the global marine scrubber market and is likely to maintain its dominance during the forecast timeframe. This market is the most promising market due to countries such as China and India, whose economies are increasing as their trade with other regions is growing and the countries are becoming self-sufficient. However, the market in North America is likely to show the fastest CAGR of 20.2% during the forecast period. This is because various organizations are driving the exhaust gas cleaning or marine scrubber market by following the framework or the strict norms made by the International Maritime Organization.

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KEY FINDINGS OF THE STUDY

By technology, the dry technology segment is projected to dominate the global marine scrubber market in terms of growth rate.
By application, the cruises segment is projected to dominate the global marine scrubber market in terms of growth rate.
By installation, the new build segment is projected to dominate the global marine scrubber market in terms of growth rate.

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